## Finland: 2025 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Finland

_IMF Staff Country Reports, January 21, 2025_

## Source details

**Canonical URL:** [Finland: 2025 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Finland](https://www.imf.org/en/publications/cr/issues/2025/01/18/finland-2025-article-iv-consultation-press-release-staff-report-and-statement-by-the-561042)

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## Bibliographic details
- Published: January 21, 2025
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400299742.002

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### Macroeconomic outlook and inflation
- The Finnish economy is recovering from the 2023 recession.
- Recovery is supported by easing inflation and real wage growth.
- Falling energy prices and weak domestic demand have temporarily reduced inflation below 2 percent.
- The economic recovery is expected to gain momentum in 2025.
- Downside risks, especially from abroad, remain elevated.

### Fiscal position and public debt
- The economic downturn and increases in expenditure are expected to drive the fiscal deficit to 3.7 percent in 2024.
- The fiscal deficit increase is expected to further increase public debt.

### Financial sector resilience
- Banks are well capitalized and have sufficient liquidity to withstand all but the most severe shocks.

### Labor market, participation, and skills
- Ambitious labor market reforms initiated in 2023 will continue to support employment as the economy recovers.
- Potential policy priorities:
  - Increase participation rates further.
  - Strengthen educational outcomes.
  - Attract more high-skilled talent from abroad.

### Structural reforms and productivity
- Finland performs well on many business and innovation metrics, but deeper structural reforms are needed to raise productivity growth.
- Areas highlighted for attention:
  - Increasing the availability of risk capital.
  - Reducing barriers to entry into the services sector.
  - Continuing to pursue the deepening of the EU’s single market.

### Publication metadata and key statistics
- Subject: Expenditure, Fiscal policy, Fiscal stance, Production, Productivity, Public debt
- Keywords: Baltics, FIN-FSA favor, Finland's economy, Fiscal stance, Global, Ministry of Finance estimate, population growth boost housing demand, Productivity, R&D expenditure, strengthening growth momentum, transparency policy
- Pages: 85
- Volume: 2025
- Issue: 010
- Series: Country Report No. 2025/010
- DOI: https://doi.org/10.5089/9798400299742.002
- Stock No: 1FINEA2025001
- ISBN: 9798400299742
- ISSN: 1934-7685
- Publication date on landing page: January 21, 2025

*Finland: 2025 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Finland*

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_Source: https://www.imf.org/en/publications/cr/issues/2025/01/18/finland-2025-article-iv-consultation-press-release-staff-report-and-statement-by-the-561042_